The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
Asia-Pacific markets opened mostly higher Thursday, as Wall Street rose overnight after U.S. President Donald Trump postponed tariffs on certain automakers. Japan's Nikkei 225 rose 0.76%, while the Topix climbed 0.78%. Yields of Japanese government bond yields have surged, with the 10-year Japanese bond yield hitting its highest level since 2009, data from LSEG showed. South Korea's Kospi advanced 0.61% while the small-cap Kosdaq inched up 0.38%. South Korea's consumer inflation for February rose 2% year on year, more than Reuters estimates of a 1.95% increase, and slower than the 2.2%...
The Nikkei 225 Index climbed 1.1% to surpass 37,800, while the broader Topix Index gained 1% to 2,745 on Thursday, marking a second consecutive session of gains. The rally followed US President Donald Trump's announcement of a one-month exemption for automakers from his 25% tariffs on imports from Canada and Mexico. The White House also indicated that Trump is open to further tariff concessions, easing concerns about potential economic fallout. Meanwhile, Bank of Japan Deputy Governor Shinichi Uchida stated this week that the central bank could raise interest rates further if its forecasts...
Wall Street's main indexes finished higher in choppy trading on Wednesday, as investors cheered the likely easing of trade tensions between the U.S. and major trading partners. Stocks turned positive after a report said President Donald Trump was considering a one-month delay of auto tariffs on Canada and Mexico. Equities extended gains after a White House announcement confirmed that Trump agreed to delay tariffs on some vehicles. Earlier, Wall Street had lost ground following mixed economic data and as investors also worried about a trade war. "We are on the tariff roller coaster," said...
gyrated on Wednesday amid ongoing uncertainties tied to President Donald Trump's controversial tariffs. The S&P 500 and Nasdaq Composite added 0.2% and 0.4%, respectively. The Dow Jones Industrial Average rebounded by 181 points, or 0.4%, after plunging more than 1,300 points over the last two sessions. The three indexes swung between positive and negative territory for the day. If the averages end down, it would mark the third straight negative session for each. Commerce Secretary Howard Lutnick said late Tuesday that he expected an announcement on an agreement with Canada and Mexico...
The S&P 500 was little changed on Wednesday, as fresh jobs data exacerbated concerns about the economy and appeared to distract from hopes of a compromise on President Donald Trump's controversial tariffs. The S&P 500 rose 0.2%, while the Nasdaq Composite edged up 0.1%. The Dow Jones Industrial Average jumped 162 points, or 0.4%, after dropping more than 1,300 points over the past two sessions. Commerce Secretary Howard Lutnick said late Tuesday that he expected an announcement on a deal with Canada and Mexico. Lutnick added earlier Wednesday that Trump was considering which...